Legal & General Group Plc Takes Position in Docusign Inc. $DOCU

Legal & General Group Plc acquired a new position in shares of Docusign Inc. (NASDAQ:DOCU) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 495,314 shares of the company’s stock, valued at approximately $22,002,000.

A number of other large investors have also recently made changes to their positions in DOCU. Bank of America Corp DE grew its stake in shares of Docusign by 23.3% during the first quarter. Bank of America Corp DE now owns 1,193,163 shares of the company’s stock worth $56,568,000 after purchasing an additional 225,801 shares in the last quarter. Capital World Investors raised its stake in Docusign by 38.1% in the fourth quarter. Capital World Investors now owns 5,815,804 shares of the company’s stock valued at $397,801,000 after buying an additional 1,603,900 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Docusign by 247.5% in the second quarter. Assenagon Asset Management S.A. now owns 349,038 shares of the company’s stock valued at $15,504,000 after buying an additional 248,597 shares in the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new stake in Docusign during the 4th quarter worth about $6,897,000. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Docusign during the 4th quarter worth about $1,750,000. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CRO Paula Hansen sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $45.54, for a total transaction of $273,240.00. Following the transaction, the executive directly owned 89,972 shares in the company, valued at approximately $4,097,324.88. This trade represents a 6.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Blake Jeffrey Grayson sold 15,000 shares of Docusign stock in a transaction on Friday, August 7th. The shares were sold at an average price of $60.00, for a total transaction of $900,000.00. Following the completion of the transaction, the chief financial officer directly owned 126,429 shares in the company, valued at $7,585,740. The trade was a 10.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 91,780 shares of company stock valued at $4,386,546 in the last 90 days. Company insiders own 0.59% of the company’s stock.

Docusign Stock Performance

DOCU opened at $64.00 on Friday. The business’s 50-day simple moving average is $53.44 and its 200-day simple moving average is $49.15. Docusign Inc. has a one year low of $40.16 and a one year high of $86.65. The stock has a market capitalization of $12.22 billion, a P/E ratio of 41.56, a price-to-earnings-growth ratio of 1.86 and a beta of 0.87.

Docusign (NASDAQ:DOCU) last posted its earnings results on Thursday, June 4th. The company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.10. The business had revenue of $830.24 million during the quarter, compared to the consensus estimate of $824.71 million. Docusign had a return on equity of 17.48% and a net margin of 9.59%.The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.90 EPS. On average, equities research analysts forecast that Docusign Inc. will post 2.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Wells Fargo & Company dropped their price objective on Docusign from $60.00 to $55.00 and set an “equal weight” rating on the stock in a report on Friday, June 5th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $86.00 price target on shares of Docusign in a report on Tuesday, August 18th. BTIG Research dropped their price target on shares of Docusign from $70.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, June 5th. UBS Group set a $60.00 price objective on shares of Docusign in a report on Friday, June 5th. Finally, Jefferies Financial Group boosted their price objective on shares of Docusign from $45.00 to $50.00 and gave the stock a “hold” rating in a research report on Friday, June 5th. Four analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $60.27.

More Docusign News

Here are the key news stories impacting Docusign this week:

• Positive Sentiment: Analysts at Zacks said DocuSign’s upcoming earnings report could benefit from factors supporting a potential earnings beat. The articles encourage investors to monitor earnings expectations ahead of the scheduled quarterly announcement. DocuSign Earnings Expected to Grow
• Positive Sentiment: Recent trading strength across several software stocks, including DocuSign, provided a favorable sector backdrop and helped support investor sentiment toward DOCU. Software Stocks Trade Up
• Neutral Sentiment: DocuSign’s ARR guidance is expected to receive increased attention from Bank of America. Investors will likely scrutinize recurring-revenue growth and management’s outlook because ARR is a key indicator of future subscription performance. DocuSign ARR Guidance
• Neutral Sentiment: Comparisons with Autodesk (NASDAQ: ADSK) frame DocuSign as a potential value opportunity within internet software, but the analysis does not represent a new company catalyst. DOCU Versus ADSK
• Negative Sentiment: Director James A. Beer sold 450 shares worth approximately $28,809. The transaction reduced his holdings by 2.99%, but it was made under a pre-arranged Rule 10b5-1 trading plan and represents only a small portion of his remaining stake, limiting its significance as a bearish signal. DocuSign Director Stock Sale Filing

About Docusign

DocuSign, Inc (NASDAQ: DOCU) is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.